You are given the following information for Lighting Power Company. Assume the company$$s tax rate is $22$ percent.

Debt:

$17,0006\mathrm{.}6$ percent coupon bonds outstanding, $$1,000$ par value, $26$ years to maturity, selling for $106$ percent of par; the bonds make semiannual payments.

Common stock: $500,000$ shares outstanding, selling for $$68$ per share; the beta is $1\mathrm{.}19.$

Preferred stock:

$22,000$ shares of $4\mathrm{.}4$ percent preferred stock outstanding, a $$100$ par value, currently selling for $$89$ per share.

Market: $7$ percent market risk premium and $5\mathrm{.}5$ percent risk$-$free rate.

What is the company's WACC?